GUE gets key permit ahead of busy 2024

Today, our uranium Investment, Global Uranium and Enrichment (ASX: GUE) announced the receipt of an important permit for its most advanced, JORC-stage project in Colorado, USA.

This allows GUE to explore further on the project, a project that is already one of the largest undeveloped uranium projects in the US.

This week, we wrote about how much the US is desperately seeking new domestic sources of uranium production - and how GUE fits into that ambition.

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The Notice of Intent to Conduct Prospecting Operations allows 20 new drill holes per year for 5 years, and GUE is targeting a Scoping Study at Tallahassee which has existing JORC 49.8 Mlbs U3O8 at a grade of 540ppm.

A 20 hole program in 2024 for GUE will help the company assess potential uranium recovery processing steps.

The Hansen Deposit, which will be the main focus of this drilling, was discovered in 1977.

It had feasibility studies done on it and it was fully permitted to commence production prior to the collapse of the uranium market in 1982.

We’re hoping this drilling will help unlock the deposit, and eventually take it into a development phase where the value of the project could become more valuable in the market’s eyes.

It’s a good time to be drilling too, the uranium spot price is hovering around 16 year highs at the moment.

What’s next for GUE?

Drilling at JORC Resource project 🔄

Scoping Study at JORC Resource project 🔄